LosslessLSS to EUR

What Is Lossless Protocol (LSS)?

Lossless (LSS) is a DeFi protocol that monitors and detects fraudulent transactions under fraud identification parameters and helps return stolen funds from their proprietors. A small number of influencers will serve as ambassadors for Lossless as they aim to build long-term relationships with all their customers. 

The lossless protocol creates an extra blockchain transaction security layer for ERC-20-based tokens to handle the financial impact of intelligent contract exploits and cover private key theft. Lossless uses community-driven threat identification tools and a stakeholder-based reporting system, providing real-time protection from suspicious transactions.

The Lossless has mainly developed to secure a token security framework that confirms to creators and their teams that they have failed to save themselves against malicious exploits. 

Lossless is decentralized finance (DeFi) protocol and provides a quality scam detection solution. LSS is a  native token of lossless, and you can stake the tickets on the network, use them for borrowing/lending, make payments using LSS and receive rewards. LSS owners can also vote for fundamental changes with the token as a governance token.

Detecting fraudulent transactions is their primary function. Such trades are frozen once they are discovered. Now they are investigating. There are several technical aspects to how it works. The goal is to make the information easy to understand. In this case, if the stolen tokens are confirmed to be a fraud, they return them to their owners, including three complete steps.

Urgent Freezing: They immediately freeze the transaction. Once fraudulent transactions are denoted, the bot's creator receives a reward after confirmation.  

Fraud Analysis: The Decision-Making Body performs a review of frozen transactions. Fraud is confirmed or not by them. Fraudulent addresses can be frozen permanently.

Returning stolen funds:  Returning stolen funds to their rightful owners is the responsibility of the Decision-Making Body.

How Does Lossless Work?

A DAO-based Decision-Making Body and hack detection bots are part of Lossless' open platform to prevent counterfeit transactions. This YouTube video explains how it works. The lossless protocol must be implemented into token contracts to benefit from hack mitigation.

LSS token holders can get paid for reporting potentially fraudulent transactions when they stake the tokens. This process will incentivize a hack detection bot created for the Lossless DAO.

An uncentralized Lossless Decision Making Body is tasked with freezing the stolen funds after discovering and verifying the hack. Lossless Company, Lossless Committee, and Token Creator make up this body. If the Decision Making Body approves, the tokens will be reverted to their original location.

How can assets be protected?

Which issues are most likely to result in hacks in the crypto field? Vulnerabilities in smart contracts or theft of private keys.

The most common problem is that there is no audit conducted on the smart contracts, or the development team is not strong enough so that the code can be thoroughly prepared. 

"It is because of this that we have created Lossless and are sharing our solutions with token owners and project teams who have the need for security but cannot always implement them on their own." said Vygandas Masilionis, CEO of Lossless.

A total of four security tools have been developed and launched by Lossless: the Lossless protocol, Vault Protection, Token Minter, and Token Relaunch Toolkit - the latest.

The team plans to release another product called the Security Oracle shortly. I'll give you a quick introduction to each and explain how they can assist crypto projects in protecting their funds.

Is LSS token good investment?

Blockchain enthusiasts will likely react differently to Lossless DeFi protocol's promise to prevent fraud.

As the LSS token has use only within the platform, its future performance will depend on how popular and widely adopted the Lossless protocol becomes.

Lossless (LSS) Token Metrics

Token Name: Lossless

Ticker: LSS

24h Volume: $ 396,744 

Market Cap: $ 11.06 million ($ 11,063,068)

Fully Diluted Market Cap: $ 19.21 million ($ 19,214,965)

Circulating Supply: 57.58 million LSS (57,575,269.34 LSS)

Total Supply: 100.00 million LSS (100,000,000.00 LSS)

Issuance blockchains:  Binance Smart Chain, Ethereum

BSC contract address (BEP20): 0xf7686F43591302Cd9B4b9c4FE1291473Fae7D9C9

Ethereum contract address: 0x3B9BE07d622aCcAEd78f479BC0EDabFd6397E320

How to buy Lossless (LSS)?

Lossless (LSS), you can buy from centralized and decentralized exchanges. Some of them has listed below.

• Gate.io
• KuCoin
• Hoo
• Hotbit

Check all the trusted centralized and decentralized exchanges to buy Lossless (LSS).  

Lossless crypto price prediction

A peak price of US$2.4 was reached by Lossless crypto on October 20, 2021, before the crypto entered a rough phase. By January 1, 2022, the price had risen to US$1 from $0.93, but it was still around $0.93 on January 1.

Cryptocurrency prices have been volatile since the inception of Lossless. A claim that Lossless and DeFi's network weeds out fraud can motivate investors to pay more attention to the company. The value of Lossless crypto could surpass US$3 by the end of the first quarter if the momentum continues.

Check out the forecast till 2025.